A personal loan has many advantages compared to the housing company loan.
- We tailor the loan period and other terms in accordance with your needs. Compare: The terms of housing company loans are the same for everyone, and the financial consideration may become too high to manage for some shareholders.
- The interest on a personal loan taken out for home acquisition and renovation is tax deductible. Compare: You cannot deduct the interest of a housing company loan in your personal taxation.
- If your financial situation changes, you can change the repayment schedule by, for example, using instalment-free months. Compare: With a housing company loan a single shareholder’s situation cannot be catered to.
There are several options for converting a housing company loan into a personal loan. The property management company will give you information on the terms of the housing company loan, the amount of your share and the payment dates.